|28 February 2012|
Residential Property Prices Drop By 17.4%
|In the year to January, residential property prices at a national level, fell by 17.4%, according to the CSO
This compares with an annual rate of decline of 16.7% in December and a decline of 10.7% recorded in the twelve months to January 2011.
Residential property prices fell by 1.9% in the month of January. There was a decline of 1.7% recorded in December and a decline of 1.1% in January of last year.
In Dublin residential property prices fell by 4% in January and were 21.1% lower than a year ago. Dublin house prices decreased by 4.1% in the month and were 21.7% lower compared to a year earlier. Dublin apartment prices were 18.4% lower year-on-year.
The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) fell by 0.7% in January. A similar rate of decline was recorded in January last year. Prices were 15.1% lower than in January 2011.
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